Wilmington, Delaware, Nov. 07, 2023 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global foot care products market was valued $2.92 billion in 2019, and is estimated to reach $4.59 billion by 2027, growing at a CAGR of 7.1% from 2020 to 2027. The report provides a comprehensive study which focuses on business performance, changing market dynamics, key winning strategies, major segments, and competitive scenarios.
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The growth of the global foot care products market is driven by the surge in demand for organic products, aggressive marketing and development in distribution channels. In addition, an increase in the investment in research and development activities offers lucrative opportunities in the coming years. However, availability of alternative products restricts the market growth.
The report provides a detailed segmentation of the global foot care products market based on product, application, distribution channel, and region.
On the basis of products, the foot creams segment accounted for the largest share in 2019, contributing to nearly one-third of the total share, and is anticipated to maintain its lead position during the forecast period. However, the slough scrub products segment is estimated to grow at the highest CAGR of 7.8% from 2020 to 2027.
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On the basis of application, the medical segment held the largest share in 2019, holding more than two-fifths of the total share, and is projected to dominate throughout the forecast period. However, the personal comfort segment is expected to show the highest CAGR of 7.8% during the forecast period.
On the basis of region, Europe is registered to grow at the fastest CAGR of 7.8% from 2020 to 2027. However, Asia-Pacific contributed the largest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period.
Leading market players analyzed in the research include PediFix, Inc., Del Laboratories, Revlon, Alva-AmcoPharmacal, Inc., Johnson & Johnson, HoMedics, Blistex Inc., Aetna Foot Products, Miracle of Aloe, and GlaxosmithklinePlc.
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